All Forum Posts by: Joan Pla

Hi all, 

I came across a very appealing 6-unit building in a great neighborhood and while looking at the current tenants' rent info, I noticed all units are paying incredibly low rent. The building is C-class but my idea would be to upgrade it to B or A. Now, the question I got is about these tenants, this may be a very basic question but how do you upgrade the rent to current market value? Do you need to kick people out at the end of their lease? What are the options?

I'd appreciate any help

Thank you!

Hi folks, 

I came across a C-Class multi-family (6 units). And numbers seem to make sense. Anybody know the remodeling cost per sq ft in Los Angeles? How much difference would it be to upgrade to B-Class compared to A-Class?

I'd appreciate any info you can share, not only to remodel each apartment but the whole building.

The building is in a great area and I've seen the plans for development, so I think this could be a great investment. 

Thank you!

Hey Shevon, nice meeting you too! Yeah, I have that book on my Amazon list of books to buy but I'd start with the other one since I am trying to understand certain basics concepts. Again, I am really really new in this world LOL!

Let's keep connected!

Hi folks, 

my name is Joan Pla, I am a Catalonian living in Los Angeles since 2007, before that, 2 years in NYC. Me and my wife own  Vendetta Entertainment a creative production company for commercials, photography, music videos and fiction content. I work also as a bidding producer at a bigger production company. I am also the father of a 15-month old girl who shares my heart with my wife Nelly.

I've got interested in real estate literally two weeks ago... I mean, owning a property is always something you talk about with your wife but never really got into it seriously. This time was different, after one of those nights you can't sleep I had an epiphany which brought me to "take action to change my situation". I started out by buying a book, then I discovered BP's podcast and now I am here...The book happened to be Brandon Turner's "How to buy a house with no (or low) money", I had no idea he was the one doing the podcast! In any case, I have very little knowledge but I have time :) So I want to get educated as much as possible, find my path in real estate and hopefully meet great people here to learn from.

For the little I know and have heard, I feel special interest in small multi-units or single-family homes outside of California. Prices here make it prohibitive to get started...at least it seems like that to me.

I hope this isn't too much info and nice to meet y'all!